Precipio (NASDAQ:PRPO) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Precipio, Inc. (NASDAQ:PRPO)’s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $6.84 and traded as high as $11.80. Precipio shares last traded at $11.39, with a volume of 3,723 shares changing hands.

Precipio Trading Down 2.8%

The company has a market capitalization of $17.22 million, a P/E ratio of -6.22 and a beta of 1.28. The company has a quick ratio of 0.60, a current ratio of 0.73 and a debt-to-equity ratio of 0.02. The business has a fifty day moving average price of $7.50 and a 200 day moving average price of $6.84.

Precipio (NASDAQ:PRPO) last released its earnings results on Wednesday, May 14th. The biotechnology company reported ($0.59) earnings per share (EPS) for the quarter. The company had revenue of $4.93 million for the quarter. Precipio had a negative return on equity of 34.01% and a negative net margin of 17.23%.

Insiders Place Their Bets

In other Precipio news, Director Richard A. Sandberg purchased 4,251 shares of the stock in a transaction on Tuesday, May 20th. The shares were purchased at an average price of $8.47 per share, with a total value of $36,005.97. Following the completion of the transaction, the director now directly owns 30,140 shares in the company, valued at $255,285.80. This represents a 16.42% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have acquired a total of 14,978 shares of company stock valued at $135,481 over the last 90 days. 16.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Precipio

A hedge fund recently bought a new stake in Precipio stock. Renaissance Technologies LLC purchased a new position in shares of Precipio, Inc. (NASDAQ:PRPO) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,100 shares of the biotechnology company’s stock, valued at approximately $56,000. Renaissance Technologies LLC owned approximately 0.68% of Precipio at the end of the most recent reporting period. Hedge funds and other institutional investors own 10.45% of the company’s stock.

About Precipio

Precipio, Inc, a healthcare solutions company, provides diagnostic products, reagents, and services in the United States. It provides diagnostic blood cancer testing services. The company offers IV-Cell, a proprietary cell culture media that enables simultaneous culturing of four hematopoietic cell lineages; and HemeScreen, a suite of robust genetic diagnostic panels.